UK vacuum maker Dyson scraps electric car project

Business News

FILE – In this Wednesday, Sept. 14, 2011 file photo, Inventor James Dyson launches the Dyson DC41 Ball vacuum and the Dyson Hot heater fan on in New York. Dyson, the British company best known for groundbreaking vacuum cleaners, is scrapping its electric car project because it doesn’t make business sense. Billionaire founder James Dyson said in an email to employees on Thursday, Oct. 10, 2019 that it was shut down because the company “simply can no longer see a way to make it commercially viable.” (AP Photo/Rob Bennett, file)

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

LONDON (AP) — Dyson, the British company best known for groundbreaking vacuum cleaners, is scrapping its electric car project because it doesn’t make business sense.

Billionaire founder James Dyson said in an email to employees Thursday that the project was shut down because the company “simply can no longer see a way to make it commercially viable.”

Dyson said the company had failed to find a buyer for the project and denied that it was a “product failure.”

Dyson announced plans last year to build the car in Singapore as part of a 2.5 billion-pound ($3.1 billion) investment in new technology globally.

The project was an ambitious attempt to enter an industry where even visionaries like Tesla’s Elon Musk have struggled to make money.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

COVID-19 IN CENTRAL ILLINOIS

Takeout & Delivery Guide

National Unemployment Tracker

Trending Stories

Latest Local News

More Local News